Due diligence is generally defined as thorough research before signing a contract, especially one involving a purchase or sale. Within a real estate context, it usually refers to a stipulated period within a real estate contract for a buyer to investigate the property in question to ensure that they are satisfied with it before the purchase is finalized. However, long before any initial offer is made, properties considered for real estate investment should be assessed as thoroughly as possible using all publicly available information. This is known as preliminary due diligence, and can involve property visits, and/or discussions with brokers, and with your advisors, such as your attorney or financial advisor.
At FAHG we know the ins and outs of these contracts and can help guide you in the right direction.